Import Summary Report- Russia

• Russia’s GDP has grown at a CAGR of 0.4% from 2011-2015 (in constant 2010 US$) while imports have declined at a rate of 12% during the same period (2011 – 2014). • Non-oil imports which constituted almost 99% of Russia’s overall imports in 2015, have reduced by a high CAGR of 12% from 2011 to 2015. Among the non-oil imports; Heavy Machinery & Electronics, Food Products, Building Materials, Chemicals & Polymers, and Consumer Durables are the major industries. • The Kingdom, at present, occupies a marginal share of 0.1% of Russia’s non-oil import segment and which also have witnessed a decline by a CAGR of 3% as a result of gradual fall of Russia’s imports from 2013 to 2015 due to forced efforts for import substitution by the government. The Kingdom prominently supplies Building Materials, Textiles, Pharmaceuticals, and Heavy Machinery to Russia. This report looks into Russia’s non-oil import market vis-à-vis the Kingdom’s share in the segment. It also outlines the import potentials in certain industries such as Heavy Machinery & Electronics, Food Products, Building Materials, Chemicals & Polymer, and Consumer Durables. Import of services by Russia is not a part of this Import Summary Report.